Financial Markets Daily Report12 juliol 2021
In the last session of the week, investors' sentiment improved and markets ended the day with positive results.
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- In the last session of the week, investors' sentiment improved and markets ended the day with positive results.
- Yields on sovereign bonds edged up, particularly so in the US, stock market volatility declined and equities rose across the board, with financial companies leading the gains in the US. In FX markets, the US dollar weakened against most advanced economies' currencies and the euro fluctuated slightly below $1.19.
- During the weekend, G20 finance ministers and central bankers gathered in Venice and focused their discussions on climate change policies and on the minimum corporate tax rate. On the latter issue, there are still some EU countries to convince (e.g.: Estonia, Hungary and Ireland) but US and EU officials are confident on reaching a deal.
- This week the focus will be on the final June HICP figures in the euro area, including Spain (Wed.), and on the US CPI data for June (Tue.). Also, Q2 earnings season will start in the US.